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Is 20 Inquires in one year way to much

New Member

Is 20 Inquires in one year way to much

Hi! I got kind of carried away and applied for many credit cards in one year.  It did drop my score a good 60 points.How long will it take to bounce back??

 

Brigite Grisanti

5 REPLIES
Established Member

Re: Is 20 Inquires in one year way to much

I am new to this forum and credit repair but I believe it is 12 months, you should garden. You can find information about gardening here. Just out of curiosity what are your scores and what cards did you get? 

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Valued Member

Re: Is 20 Inquires in one year way to much

According to Credit Karma, I have 12 inquiries in 2 years and I have an "F" grade for inquiries. Smiley Sad  So I will assume that 20 in 1 year is frowned upon.

 


Starting Score: March 2013 = EQ 606 - TU 558 - EX 570
Current Score: EQ 613 TU 635 EX 628
Goal Score: 700s

Take the myFICO Fitness Challenge


Moderator Emeritus

Re: Is 20 Inquires in one year way to much


brigitte-grisanti wrote:

Hi! I got kind of carried away and applied for many credit cards in one year.  It did drop my score a good 60 points.How long will it take to bounce back??

 

Brigite Grisanti


Assuming nothing else changed on your reports, the loss would be due to the new credit ding, likely impact to your average age of accounts, and possibly increased CC utilization if any of these are reporting a balance. As mentioned, garden. Let what you have age for a year or two and inside a year, most of those points will return. Possibly all could return if your AAoA didn't take a beating. Also pay down any balances. Ideally, get all to report $0 except for one and get the one to report under 9% of the CL.

Moderator Emeritus

Re: Is 20 Inquires in one year way to much


llecs wrote:

brigitte-grisanti wrote:

Hi! I got kind of carried away and applied for many credit cards in one year.  It did drop my score a good 60 points.How long will it take to bounce back??

 

Brigite Grisanti


Assuming nothing else changed on your reports, the loss would be due to the new credit ding, likely impact to your average age of accounts, and possibly increased CC utilization if any of these are reporting a balance. As mentioned, garden. Let what you have age for a year or two and inside a year, most of those points will return. Possibly all could return if your AAoA didn't take a beating. Also pay down any balances. Ideally, get all to report $0 except for one and get the one to report under 9% of the CL.


That llecs guy kind of knows what he's talking about.  Smiley Happy   Garden, garden, garden.    Those Inqs will age off and the TLs will age strengthening your CR.  It just needs a little time.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Valued Contributor

Re: Is 20 Inquires in one year way to much

Ugh, why does time have to take so dang long!

Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
Current Score: 1/22/15 TU 645; EQ 605; EX 633 New goal 675
Cap1 sec $1k (SD) / Fingerhut $2k / Flagship $12k / cashRewards $12k / NavChek $15k / Amazon $2k / Von Maur $1k / Firestone $2.2k / BCU $3k / NFL $1k / QS1 $750 / Target $400 / PPSC $800 / Conoco $700 (last app 09/29/14)